Research Report Detail

Goldman Sachs downgrades Bharti Infratel to sell

Goldman Sachs has downgraded Bharti Infratel to "sell" from "neutral" with a target price of Rs 307. Structural headwinds remain for the company. Current valuation of Bharti Infratel at 10 times EV/EBITDA is expensive. Goldman Sachs cuts earnings estimates for FY17-19 by 5-17 per cent.